If you are thinking of remodeling your home, there has never been a better time! Trade contractor pricing is as low as we have seen it, but the costs of materials are starting to inch up from their historic low prices. A report from The Associated General Contractors of America indicates that the prices for gypsum products (drywall) are up almost 18% from the previous year, while some other raw material costs are slightly down. We have watched as real estate prices have stabilized while the costs of lots and starter homes has actually increased. We believe that all of this points to a recovering market for homes on the Washington Metropolitan area.

Real estate professionals will tell you that the homes, which have been appropriately maintained and updated, will sell quicker and will bring the best prices to the sellers. There is no good economic argument to support not putting money into your home. Just as you can’t expect your car to hold value and continue to perform if you don’t spend the money to maintain it your home won’t either. There is no free lunch.

Many financial experts have advised correctly that people should not blindly put money into their homes treating it like a 401k. Although this is sound advice, not spending any money on your home is financially foolish. Family members wear houses down just by living in them. Appliances, plumbing fixtures and heating/ cooling systems all age and become obsolete. The weather takes a constant toll on your home’s exterior. A new paint job every 3-5 years is far less expensive that a carpentry crew replacing rotten and deteriorating wood, which will then need to be painted.

If you are going to re-paint, what ever you do, don’t cheap out on the paint! Buy the best grade of latex paint from a reputable manufacturer. Don’t forget, latex topcoat over an oil-based primer. In our area it is imperative that the paint has a good mildewcide.

The fall weather is beautiful, so take an hour and look your house over carefully for wear and tear that needs to be addressed. If you need to prioritize your list, our staff is happy to talk to you about what is critical and what can be put off until next year.

BethesdaBuilders.com

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